RESPON PASAR MODAL TERHADAP PENGHARGAAN LAPORAN TAHUNAN BERDASAR PRINSIP GOOD CORPORATE GOVERNANCE PERIODE 2005 - 2006
Adrian , Reza Fand (Adv.Arief Surya Irawan, S.E., M.Com., Ak.), Arief Surya Irawan, S.E., M.Com., Ak.
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Corporate Governance is a process and structure applied in running a company, increase stockholder value is the goal of GCG without excepting importance from another stakeholder, applying Good Corporate Governance supposed increase quality of financial statement so that capable to increase financial statement user belief. This is a quantitative research using event study approach to test information content to detect significant abnormal return before and after announcement Annual Report Awards, results of t-test using one sample t-test and paired sample t-test on average abnormal return doesn't find adequate confidence results about positive market response in annual report appreciation announcement event.
Furthermore, results period in 2005 to 2006 from average abnormal return and t-test shows public not interested with information content on Annual Report Awards that presented by BUMN Ministry, Tax Director General (DJP), Capital Market Supervisor (BAPEPAM), BEI, Indonesian Institute of Accountants (IAD, and Policy National Committee for Corporate Governance (KNCKG), this research indicate public trust from applied Corporate Governance Principle stills low.
Kata Kunci : Pasar Modal, Penghargaan Laporan Tahunan, Good Corporate Governance, Periode 2005 - 2006
